Heat the olive oil in a large pot or Dutch oven over medium-high heat.
Once the oil is hot, add the ground beef and diced onions to the pot.
Break up the ground beef with a spoon and cook until it is fully browned.
Stir in the chopped garlic and cook for about 1 minute.
Sprinkle in the flour, stir thoroughly, and cook for approximately 3 minutes.
Pour in the chicken broth and stir until the mixture thickens.
Add the heavy cream and mix well again.
Season the soup with salt, pepper, onion powder, Italian seasoning, and paprika, stirring to combine all ingredients.
Bring the soup to a boil, then add the carrots and uncooked macaroni noodles.
Stir to combine and return the soup to a boil.
Once boiling, cover the pot with a lid and reduce the heat to low.
Let the soup simmer for 20 minutes, stirring occasionally to prevent it from sticking.
After 20 minutes, remove the lid and stir well.
Add the shredded cheddar and parmesan cheese, stirring until the cheese has melted.
Serve hot and enjoy!